Suresh Prabhu noted the strategies of railways that will evolve around three pillars - exploring new avenues to raise revenues, improve efficiency and totally recast decision-making. He also mentioned revamping of railway stations, monetisation of land to raise rail revenue from non-freight sources.

"Cooperation, collaboration and communication, are the hallmarks of Indian Railways' journey forward," the minister said. "We will be at the forefront of infrastructure investment in the country."